Nitco touches roof on getting nod to monetize immovable property in Mumbai
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Nitco is currently trading at upper limit of Rs. 79.50, up by 3.78 points or 4.99% from its previous closing of Rs. 75.72 on the BSE.
The scrip opened at Rs. 79.50 and has touched a high and low of Rs. 79.50 and Rs. 79.50 respectively. So far 502 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 82.19 on 21-May-2024 and a 52 week low of Rs. 16.85 on 22-Aug-2023.
Last one week high and low of the scrip stood at Rs. 79.50 and Rs. 69.01 respectively. The current market cap of the company is Rs. 571.28 crore.
The promoters holding in the company stood at 47.93%, while Institutions and Non-Institutions held 15.33% and 36.73% respectively.
Nitco has received approval for monetization of Company's immovable property situated at Kanjurmarg, Mumbai and enter into conveyance deed or agreement with Runwal Construction. The Company intends to complete the aforesaid transaction which shall be subject to signing of definitive agreements between the parties and necessary/requisite approvals, if any. The Board of Directors of the Company at their meeting held on June 13, 2024 has inter-alia considered and approved the same.
Nitco is engaged in the manufacture of ceramic tiles, vitrified tiles, mosaico, marble, cement terrazzo tiles and cement.
